Bhopal, June 19 -- Retail gold prices surged on Monday, dipped slightly on Tuesday, and climbed again on Wednesday. Experts offer many explanations and urge caution, but in Bhopal, their words may do little to shake buyer trust in the yellow metal.
As of Wednesday, 24 karat gold was retailing in the region of a record Rs 1,03,000 per 10 grams in the state capital. For early buyers, the gains have been solid: untaxed, secure, and instant.
"I bought gold worth Rs 76,000 in July last year. It's now worth a lot more. The gains are better than any mutual fund I've invested in," says a retired bank clerk.
At the city's conservative Sarafa Bazaar, jewellers say Bhopal's enduring affection for gold hasn't changed, even if buying habits have.
"E...